Voltas Limited, a Tata company, witnessed triple-digit growth in April 2022, owing to a surge in demand for cooling devices during the country's scorching summer. The number of cooling products in April 2022 shattered numerous records.
For more than a decade, Voltas has been the undisputed market leader in the Room Air Conditioner category, continually holding the No. 1 position and gradually maintaining its lead over the competition, with a lead of more than 640 BPS over the nearest rival as of YTD March FY22. The brand is now preparing to accomplish its FY 23 business goals.
Mr. Pradeep Bakshi, Managing Director & CEO of Voltas Ltd, commented on the success, saying, "In comparison to the previous three years, the summer of April 2022 has helped us achieve exceptional growth. The volume of our Room AC business has increased by nearly 170 percent. The whole cooling products business has expanded by more than 160 percent, while the volume of our Home Appliances has increased by 75 percent. In Commercial Refrigeration, the corporation increased its capacity by 125 percent on April 22. We believe that the brand's broad presence, focus on developing channels, outstanding distribution network, strong brand equity, and appealing consumer offers will help it stay ahead of the competition."
"We are well-positioned to satisfy expanding demand," he continued, "and are enthusiastic about meeting our commercial objectives for the fiscal year FY23."
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